Estonia seeks investor for new congress centre

The search is on in Estonia for a developer, investor and operator of a convention centre. Leading the search are the Estonian Convention Bureau, Enterprise Estonia and the Ministry of Economic Affairs and Communications.

The congress centre could open around 2020, and the development price for the necessary real estate is in the range of €65 million.

The convention bureau says it has identified around 450 international professional conferences of up to 4,000 participants, which rotate in the geographical area to which Estonia belongs.

“Bringing large-scale international conferences and fairs to Estonia should interest both entrepreneurs and the public sector, and a contribution from the state and cities is crucial to make that happen,” said the bureau’s chairman of the board, Feliks Mägus. “We are competing with cities and countries where the construction of convention centres is financed with public funds.”

It is estimated that building a centre specifically for conferences would add an extra €15 million to the economy and create 400 new jobs. Conference delegates typically spend more money in the destination compared to regular tourists, an average of €1,300 per visit.